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SBI CBO Mock Test - 8 - Bank Exams MCQ


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120 Questions MCQ Test Mock Test Series for SBI CBO Exam 2024 - SBI CBO Mock Test - 8

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SBI CBO Mock Test - 8 - Question 1

Of course, in his attempts at field investigation, the historian is at the disadvantage that the countryside has changed in many respects since the period which he is studying. He is not permitted to use H.G. Wells‘s time machine, to enable him to see it as it actually was. Inevitably he is concerned in the main, if not exclusively, with literary and other materials, which have survived from that stretch of the past which interests him.  

Old maps may be plans of cities, charts of sea coasts and estuaries, cartularies of landed estates, or topographic delineations of land areas. These clearly engage the interest of historians and geographers alike, and they call for a combination of the methods and viewpoints of each. Maps can be conceived of and considered in several quite different ways, being properly regarded, and so assessed, as works of art—at best as objects of colour, skill, form, and beauty. They may alternatively be regarded purely for their cartographic aesthetic.  

The main queries which then arise are the following: how is it that the map-maker has carried out his task and with skill of what echelon and with what degree of success has he done so? Such an inquiry falls to the specialist field of historical cartography. An antiquarian map may also be approached in a means akin to that of the student who conceives it as a font contemporaneous with the time of its production. Thus, the historical cartographer may seek to bring grist to his mill and to consider the map‘s reliability as a satisfactory source of empirical evidence. By such means also the regional historian, in his search for essentials about such past matters as the availability of roads, the extent of enclosed farmland, or the number and location of mines and quarries, is no less an interested party.

 The value of old maps as documents useful for historicity depends necessarily on to what degree they depict and on how accurately. For virtually all periods of pre-modern history some maps have survived to serve as historiography, depicting, however imperfectly, certain features of past geography. The work of Claudius Ptolemy—who lived in the 2nd century A.D.—for centuries provided the basis for maps of the known world and its major regions. Although many were drawn on the scientific basis which he provided, they nevertheless embodied many errors—of location, distance, and the shape of areas of land and sea.  

The medieval portolan charts of the Mediterranean Sea and the later charts which provided sailing directions, produced in Holland, were accurate enough to be useful in practical navigation. Plans of important cities of Europe, so well-drawn as to yield evidence of their earlier form and extent, are notably offered in Braun and Hogenberg‘s Civitates Orbis Terrarum, published at Cologne and, in England, in John Speed‘s plans of cities. Similarly, John Ogilby‘s Britannia, Volume the First, appearing in 1675, gives detailed information of England's road system as it existed nearly three centuries ago. However, few of the early maps approach modern standards, which require accurate representation of distances and of heights above mean sea-level and the use of carefully distinguished symbols. This is because it was not until the 18th century that cartography, as an exact science, was born.  

Directions: Read the above paragraph and answer the following:

Q. According to the passage, which of the following statements is/are NOT true?  

I. Most maps produced before the 18th century are not as accurate as maps produced after the 18th century.  

II. The maps of Claudius Ptolemy were not used as a model by later mapmakers.

III. Historians have generally been uninterested in using maps as a tool to learn about the past. 

Detailed Solution for SBI CBO Mock Test - 8 - Question 1

Mapping the Passage
¶1 states that maps are valuable to historical research.
¶2 discusses the various traits of old maps and ways of studying them.
¶3 and 4 describe the value of old maps in relation to how much information they provide.
¶5 provides some examples of maps useful to the study of historical geography and describes the transition from pre-modern to modern maps.

Don‘t start with RN I to answer this question! It appears in only one choice and so isn‘t a time-effective starting point. RN II appears in three choices, so start there. RN II directly contradicts the author‘s point in ¶4 that Ptolemy‘s maps served as templates for other maps for centuries. Eliminate (B). RN III contradicts the main point of the passage: historians are interested in maps as historical tools. Since RNs II and III are both untrue, only choice (D) is possible. Though there‘s no need to check RN I, it can be verified as true by looking at the main point of the last paragraph.

SBI CBO Mock Test - 8 - Question 2

Of course, in his attempts at field investigation, the historian is at the disadvantage that the countryside has changed in many respects since the period which he is studying. He is not permitted to use H.G. Wells‘s time machine, to enable him to see it as it actually was. Inevitably he is concerned in the main, if not exclusively, with literary and other materials, which have survived from that stretch of the past which interests him.

 Old maps may be plans of cities, charts of sea coasts and estuaries, cartularies of landed estates, or topographic delineations of land areas. These clearly engage the interest of historians and geographers alike, and they call for a combination of the methods and viewpoints of each. Maps can be conceived of and considered in several quite different ways, being properly regarded, and so assessed, as works of art—at best as objects of colour, skill, form, and beauty. They may alternatively be regarded purely for their cartographic aesthetic.  

The main queries which then arise are the following: how is it that the map-maker has carried out his task and with skill of what echelon and with what degree of success has he done so? Such an inquiry falls to the specialist field of historical cartography. An antiquarian map may also be approached in a means akin to that of the student who conceives it as a font contemporaneous with the time of its production. Thus, the historical cartographer may seek to bring grist to his mill and to consider the map‘s reliability as a satisfactory source of empirical evidence. By such means also the regional historian, in his search for essentials about such past matters as the availability of roads, the extent of enclosed farmland, or the number and location of mines and quarries, is no less an interested party.

 The value of old maps as documents useful for historicity depends necessarily on to what degree they depict and on how accurately. For virtually all periods of pre-modern history some maps have survived to serve as historiography, depicting, however imperfectly, certain features of past geography. The work of Claudius Ptolemy—who lived in the 2nd century A.D.—for centuries provided the basis for maps of the known world and its major regions. Although many were drawn on the scientific basis which he provided, they nevertheless embodied many errors—of location, distance, and the shape of areas of land and sea.  

The medieval portolan charts of the Mediterranean Sea and the later charts which provided sailing directions, produced in Holland, were accurate enough to be useful in practical navigation. Plans of important cities of Europe, so well-drawn as to yield evidence of their earlier form and extent, are notably offered in Braun and Hogenberg‘s Civitates Orbis Terrarum, published at Cologne and, in England, in John Speed‘s plans of cities. Similarly, John Ogilby‘s Britannia, Volume the First, appearing in 1675, gives detailed information of England's road system as it existed nearly three centuries ago. However, few of the early maps approach modern standards, which require accurate representation of distances and of heights above mean sea-level and the use of carefully distinguished symbols. This is because it was not until the 18th century that cartography, as an exact science, was born.  

Directions: Read the above paragraph and answer the following:

Q.With which of the following statements would the author be most likely to agree?  

Detailed Solution for SBI CBO Mock Test - 8 - Question 2

Mapping the Passage
¶1 states that maps are valuable to historical research.
¶2 discusses the various traits of old maps and ways of studying them.
¶3 and 4 describe the value of old maps in relation to how much information they provide.
¶5 provides some examples of maps useful to the study of historical geography and describes the transition from pre-modern to modern maps.

There‘s not much to go on in the passage by way of opinion, but even a simple prediction can yield fast results. What is the author‘s main point? Old maps have historical value. Scanning the answer choices with even this broad prediction immediately turns up (A), which states much the same thing.

 

SBI CBO Mock Test - 8 - Question 3

Of course, in his attempts at field investigation, the historian is at the disadvantage that the countryside has changed in many respects since the period which he is studying. He is not permitted to use H.G. Wells‘s time machine, to enable him to see it as it actually was. Inevitably he is concerned in the main, if not exclusively, with literary and other materials, which have survived from that stretch of the past which interests him.

 Old maps may be plans of cities, charts of sea coasts and estuaries, cartularies of landed estates, or topographic delineations of land areas. These clearly engage the interest of historians and geographers alike, and they call for a combination of the methods and viewpoints of each. Maps can be conceived of and considered in several quite different ways, being properly regarded, and so assessed, as works of art—at best as objects of colour, skill, form, and beauty. They may alternatively be regarded purely for their cartographic aesthetic.  

The main queries which then arise are the following: how is it that the map-maker has carried out his task and with skill of what echelon and with what degree of success has he done so? Such an inquiry falls to the specialist field of historical cartography. An antiquarian map may also be approached in a means akin to that of the student who conceives it as a font contemporaneous with the time of its production. Thus, the historical cartographer may seek to bring grist to his mill and to consider the map‘s reliability as a satisfactory source of empirical evidence. By such means also the regional historian, in his search for essentials about such past matters as the availability of roads, the extent of enclosed farmland, or the number and location of mines and quarries, is no less an interested party.

 The value of old maps as documents useful for historicity depends necessarily on to what degree they depict and on how accurately. For virtually all periods of pre-modern history some maps have survived to serve as historiography, depicting, however imperfectly, certain features of past geography. The work of Claudius Ptolemy—who lived in the 2nd century A.D.—for centuries provided the basis for maps of the known world and its major regions. Although many were drawn on the scientific basis which he provided, they nevertheless embodied many errors—of location, distance, and the shape of areas of land and sea.  

The medieval portolan charts of the Mediterranean Sea and the later charts which provided sailing directions, produced in Holland, were accurate enough to be useful in practical navigation. Plans of important cities of Europe, so well-drawn as to yield evidence of their earlier form and extent, are notably offered in Braun and Hogenberg‘s Civitates Orbis Terrarum, published at Cologne and, in England, in John Speed‘s plans of cities. Similarly, John Ogilby‘s Britannia, Volume the First, appearing in 1675, gives detailed information of England's road system as it existed nearly three centuries ago. However, few of the early maps approach modern standards, which require accurate representation of distances and of heights above mean sea-level and the use of carefully distinguished symbols. This is because it was not until the 18th century that cartography, as an exact science, was born.  

Directions: Read the above paragraph and answer the following:

Q. According to the passage, all of the following would be considered maps EXCEPT: 

 

Detailed Solution for SBI CBO Mock Test - 8 - Question 3

Mapping the Passage
¶1 states that maps are valuable to historical research.
¶2 discusses the various traits of old maps and ways of studying them.
¶3 and 4 describe the value of old maps in relation to how much information they provide.
¶5 provides some examples of maps useful to the study of historical geography and describes the transition from pre-modern to modern maps.

The ―according to the passage opening tips you off that this is a detail question, and consequently, that we‘re only looking for types of maps supported by examples in the passage. While three of the maps deal with geographic features similar to those the author touches on in the passage, a star chart wouldn‘t have anything to do with the author‘s idea of maps as something representing terrestrial features.

SBI CBO Mock Test - 8 - Question 4

Directions: In each of the following questions, there are four sentences or parts of sentences that form a paragraph. Identify the sentence(s) or part(s) of the sentence(s) that is/are correct in terms of grammar and usage (including spelling, punctuation, and logical consistency). Then, choose the most appropriate option.

A. Sometimes, we think we are only the people with problems.
B. Our problems override other considerations; we can't think beyond our own expectations.
C. When we see a small dampness on our wall we scurry to get them repaired and corrected.
D. But we don't think of people whose homes have been washed away by the rage of the rain gods.

Detailed Solution for SBI CBO Mock Test - 8 - Question 4
  • In A 'only' is misplaced. It should be like "we are the only people with problems".
  • In C, the pronoun 'them' is inconsistent ( in number) with its antecedent 'with small dampness'. 'It' is the correct pronoun.
  • B and D are the only correct sentences.
SBI CBO Mock Test - 8 - Question 5

You should _________________ the opportuity to travel with a guide.

Detailed Solution for SBI CBO Mock Test - 8 - Question 5

'Seize' should be used here.

Seize: to take hold of something.

SBI CBO Mock Test - 8 - Question 6

In the darkness

P :the long, narrow beard

Q :was clearly visible with

R :the tall stooping figure of the doctor

S :and the aquiline nose

The Proper sequence should be:

SBI CBO Mock Test - 8 - Question 7

Directions: In each of the following questions, there are four sentences or parts of sentences that form a paragraph. Identify the sentence(s) or part(s) of the sentence(s) that is/are correct in terms of grammar and usage (including spelling, punctuation, and logical consistency). Then, choose the most appropriate option.

A. The Great Pacific Garbage Patch, is gyre of marine litter in the central North Pacific Ocean.
B. The patch extends over a very wide area, with estimates ranging from area.
C. The size of the state of Texas to one larger as the continental United States.
D. However, the exact size is unknown.

Detailed Solution for SBI CBO Mock Test - 8 - Question 7
  • In A - 'gyre' needs a determiner before that 'a gyre' would be correct.
  • In B - 'ranging from an area' would be correct.'
  • In C - 'as large as' or 'larger than' would correct the part, "larger as" is incorrect.
SBI CBO Mock Test - 8 - Question 8

The company is _________________ to admit that its profits are decreasing steadily.

Detailed Solution for SBI CBO Mock Test - 8 - Question 8

In this context, the company is "loathe" to admit that its profits are decreasing steadily. The word "loathe" means being unwilling or reluctant to do something, which fits the context of the sentence. The company is reluctant or unwilling to admit that its profits are decreasing steadily.

SBI CBO Mock Test - 8 - Question 9

We have to

P :as we see it

Q :speak the truth

R :there is falsehood and weakness

S :even if all around us

The Proper sequence should be:

Detailed Solution for SBI CBO Mock Test - 8 - Question 9

From the options given, it can be guessed that the parts labelled P, Q, R, S can be ordered to form a meaningful sentence as
We have to →speak the truth→ as we see it → even if all around us→there is falsehood and weakness.
so order QPSR
 

SBI CBO Mock Test - 8 - Question 10

Directions: In the following questions, some of the sentences have errors and some have none. Find out which part of a sentence has an error and mark the appropriate letter (1), (2) and (3). If there is no error, mark (4).

Many people who are otherwise (1) / law-abide citizens (2) / break traffic rules knowingly. (3) / No error (4)

Detailed Solution for SBI CBO Mock Test - 8 - Question 10

Here, law-abide should be replaced by law-abiding. 

The new sentence would be, "Many people who are otherwise law-abiding citizens break traffic rules knowingly."

SBI CBO Mock Test - 8 - Question 11

Sophie doubts if she'll manage to ____________ him __________ to her way of seeing things.

Detailed Solution for SBI CBO Mock Test - 8 - Question 11

'bring round' is a phrase which means to persuade someone to agree to something. Hence, it should be used in the sentence. 

SBI CBO Mock Test - 8 - Question 12

When it began to rain suddenly on the first of January

P :to celebrate the new year

Q :we ran for shelter

R :to the neighbouring house

S :where many people had gathered

The Proper sequence should be:

SBI CBO Mock Test - 8 - Question 13

Directions: In each of the following questions, there are four sentences or parts of sentences that form a paragraph. Identify the sentence(s) or part(s) of the sentence(s) that is/are correct in terms of grammar and usage (including spelling, punctuation, and logical consistency). Then, choose the most appropriate option.

A. One of the classroom exercise I conduct with my Persuasive Communication students.
B. At IIMA is taken from Kurukshetra war.
C. I ask a student to be Kunti, other to be Karna.
D. Kunti has to persuade Karna to leave Duryodhana and join the Pandavas.
A paragraph has been broken up into four different parts. Which of the parts has no error?

Detailed Solution for SBI CBO Mock Test - 8 - Question 13
  • A should be corrected to 'one of the classroom exercises'.
  • B has to include the definite article "the Kurukshetra war".
  • C should be corrected "another to be Karna".
  • D has no error.
SBI CBO Mock Test - 8 - Question 14

The situation has become difficult to _________________.

Detailed Solution for SBI CBO Mock Test - 8 - Question 14

COPE WITH - Handle it
The situation has become difficult to COPE WITH

SBI CBO Mock Test - 8 - Question 15

He told us that

P :and enjoyed it immensely

Q :in a prose translation

R :he had read Milton

S :which he had borrowed from his teacher

The Proper sequence should be:

Detailed Solution for SBI CBO Mock Test - 8 - Question 15

He told us that he had read Milton in a prose translation which he had borrowed from his teacher and enjoyed it.

SBI CBO Mock Test - 8 - Question 16

Directions: In each of the following questions, there are four sentences or parts of sentences that form a paragraph. Identify the sentence(s) or part(s) of the sentence(s) that is/are correct in terms of grammar and usage (including spelling, punctuation, and logical consistency). Then, choose the most appropriate option.

A. Three years have passed since Dr Ira Kalish, global research head, Deloitte, visited India.
B. But the changes in modern trade are all too apparent to Kalish.
C. There has been well-publicised expansions and scale backs.
D. Some have taken a fall, and others picked pace.

Detailed Solution for SBI CBO Mock Test - 8 - Question 16

The verb in C must be "there have been" and in D, the correct idiom would be "picked up pace".

SBI CBO Mock Test - 8 - Question 17

The train station is ____________ located near the offices.

Detailed Solution for SBI CBO Mock Test - 8 - Question 17

'Conveniently' should be used here.

Conveniently: a way that is suitable for your purposes or needs.

SBI CBO Mock Test - 8 - Question 18

He knew that

P :and then to save himself

Q :was to save all the lives

R :entrusted to his care

S :the duty of a captain

The Proper sequence should be:

SBI CBO Mock Test - 8 - Question 19

Directions: In each of the following questions, there are four sentences or parts of sentences that form a paragraph. Identify the sentence(s) or part(s) of the sentence(s) that is/are correct in terms of grammar and usage (including spelling, punctuation, and logical consistency). Then, choose the most appropriate option.

A. NRIs does not include a person who has gone out of India on employment, business or vocation.
B. Or any other purpose for an uncertain period.
C. Also, a person who has come to stay in India other than employment.
D. Business or vocation, or on any other purpose for an uncertain period.

Detailed Solution for SBI CBO Mock Test - 8 - Question 19
  • A is incorrect in NRIs does not, it should be NRIs do not
  • B is incorrect as the preposition is missing " on employment etc is correct, but on cannot be applied to 'or on any other purpose" hence a new preposition needs to be inserted. E.g., "for any other purpose".
  • C also misses the preposition—other than for, on employment will be correct.
  • D is incorrect as instead of "on any other purpose" - "for any other purpose" would be correct.
SBI CBO Mock Test - 8 - Question 20

Permanent damage can be caused by prolonged ___________ to the sun.

Detailed Solution for SBI CBO Mock Test - 8 - Question 20

Permanent damage can be caused by prolonged exposure to the sun. 
Long-term, unprotected exposure to ultraviolet light from the sun can damage the retina. The retina is the back of the eye, where the rods and cones make visual images, which are then sent to the visual centers in the brain. Damage from exposure to sunlight can also cause the development of cloudy bumps along the edge of the cornea, which can then grow over the cornea and prevent clear vision. UV light is also a factor in the development of cataracts.
 

SBI CBO Mock Test - 8 - Question 21

 

It is not, therefore

P :that I pay a tribute

Q :to conductors as a class

R :with any feeling of unfriendliness

S :to a particular member of that class

The Proper sequence should be:

Detailed Solution for SBI CBO Mock Test - 8 - Question 21

It is not, therefore with any feeling of unfriendliness to a particular member of that class that I pay tribute to conductors as a class.

SBI CBO Mock Test - 8 - Question 22

Directions: The following question has two blanks, each blank indicating that something has been omitted. Choose the set of words for each blank that best fits in the context of the sentence

All the __________ functions including selection of bank chairpersons continue to be __________ by the Ministry of Finance.

Detailed Solution for SBI CBO Mock Test - 8 - Question 22

In the context of the sentence, the only appropriate combination of words is that of "governance" and "controlled". This makes the sentence meaningfully correct. All other options are either grammatically or contextually incorrect. Therefore, options B, C, D and E are eliminated.

Option A is hence the correct answer.

SBI CBO Mock Test - 8 - Question 23

Block of Residential flats / are coming up / near our houses / No error.

Detailed Solution for SBI CBO Mock Test - 8 - Question 23

This statement is wrong: Block of Residential flats

Correct Statement will be: Blocks of Residential flats

SBI CBO Mock Test - 8 - Question 24

Directions: The following question has two blanks, each blank indicating that something has been omitted. Choose the set of words for each blank that best fits in the context of the sentence

Currently, the maker __________ systems require human __________ and are therefore prone to capture and corruption.

Detailed Solution for SBI CBO Mock Test - 8 - Question 24

In the context of the sentence, the only combination of words that lead to a meaningful sentence is "checker" and "intervention".

Maker-checker is one of the central principles of authorization in the information systems of financial organizations. The principle of maker and checker means that for each transaction, there must be at least two individuals necessary for its completion.

All other options are incorrect either contextually or grammatically. Therefore, options A, B, C and E are eliminated.

Option D is hence the correct answer.

SBI CBO Mock Test - 8 - Question 25

The stuents were / awating for / the arrival of the cheif guest / No error.

Detailed Solution for SBI CBO Mock Test - 8 - Question 25

The verb await itself means to wait for somebody/something. Therefore, in option B either remove "for" after awaiting or replace "awaiting" with "waiting".

SBI CBO Mock Test - 8 - Question 26

Directions: The following question has two blanks, each blank indicating that something has been omitted. Choose the set of words for each blank that best fits in the context of the sentence

RBI lacks supervisory capacity to conduct forensic audits and this must be strengthened with __________ as well as __________ resources.

Detailed Solution for SBI CBO Mock Test - 8 - Question 26

In the context of the sentence, the only appropriate combination of words is that of "human" and "technological". This makes the sentence meaningfully correct. All other options are either grammatically or contextually incorrect. Therefore, options B, C, D and E are eliminated.

Option C is hence the correct answer.

SBI CBO Mock Test - 8 - Question 27

Sixty miles / are / a good distance / No error.

Detailed Solution for SBI CBO Mock Test - 8 - Question 27

Sixty miles is a good distance.

SBI CBO Mock Test - 8 - Question 28

Directions: The following question has two blanks, each blank indicating that something has been omitted. Choose the set of words for each blank that best fits in the context of the sentence

Unlike mainstream media that falls under __________ regulation, online platforms have scope for wrongdoing due to the lack of __________ rules, and the ability to keep owners and editors private like in the case of fake news sites.

Detailed Solution for SBI CBO Mock Test - 8 - Question 28

The word “regulation” after the first blank indicates that the word describes the type of regulation the “mainstream media” falls under. In the context of the sentence, the words which are suitable for the first blank are “inclusive”, “comprehensive” and “extensive”. Hence options B and E are eliminated.

“Lack of” before the second blank and “rules” after it shows that it has to be the opposite of the type of rules faced by the mainstream media. The only word that makes the sentence meaningfully correct is “binding” which means ‘involving an obligation that cannot be broken’. The words “delicate" and “defamation” are irrelevant to the context of this sentence. This eliminates options A and D as well.

Option C is hence the correct answer.

SBI CBO Mock Test - 8 - Question 29

They have been / very close friends / until they quarrelled / No error.

Detailed Solution for SBI CBO Mock Test - 8 - Question 29

This statement is wrong: They have been

Correct Statement will be: They had been

SBI CBO Mock Test - 8 - Question 30

Directions: The following question has two blanks, each blank indicating that something has been omitted. Choose the set of words for each blank that best fits in the context of the sentence

Related frauds amount to INR 612.6 billion in the last five financial years and governance failures on account of __________ and __________ issues plague the banking system.

Detailed Solution for SBI CBO Mock Test - 8 - Question 30

The sentence tries to convey that the banking system is “plagued” or ‘infected’ with problems such as “frauds” and incapability and inefficiency of the government.

“Failures on account of” before the blanks indicate that the words occupying the blank must be positive so that the whole expression can become negative. In the context of the sentence, the only combination of words that lead to a meaningful sentence is "integrity" and "competence". All other options are incorrect either contextually or grammatically.

“Integrity” is the quality of being honest and having strong moral principles. “Competence” is the ability to do something successfully or efficiently.

Option D is hence the correct answer.

SBI CBO Mock Test - 8 - Question 31

Industrial Finance Corporation of India(IFCI) was the first industrial financing institution set up to provide medium and long-term financial assistance to large-scale industrial undertakings. When was it established?

Detailed Solution for SBI CBO Mock Test - 8 - Question 31

IFCI was India's first industrial financing institution, founded shortly after independence. The Industrial Finance Corporation of India Act 1948 established it as a statutory corporation in July 1948. It has now been converted into a joint-stock company under the Companies Act of 1956, with effect from July 1, 1993.

SBI CBO Mock Test - 8 - Question 32

Which of the following statements are true in regards NBFC?

Detailed Solution for SBI CBO Mock Test - 8 - Question 32
  • NBFC’s lend and make investments and hence their activities are similar to that of banks; however there are a few differences as given below:
    • NBFC cannot accept demand deposits;
    • NBFCs do not form part of the payment and settlement system and hence cannot issue cheques
    • Credit Guarantee Corporation is not available to depositors of NBFCs, unlike in case of banks.
SBI CBO Mock Test - 8 - Question 33

Which of the following is type of Commercial Insurance Policy?

Detailed Solution for SBI CBO Mock Test - 8 - Question 33

Major insurers offering commercial insurance in India include:

  • New India Assurance 
  • HDFC Ergo
  • Bajaj Allianz General Insurance Co. Ltd
  • Bharti AXA General Insurance Company Limited
SBI CBO Mock Test - 8 - Question 34

How many countries are part of ASEAN organization?

Detailed Solution for SBI CBO Mock Test - 8 - Question 34

The Association of Southeast Asian Nations(ASEAN) is a regional intergovernmental organization comprising ten countries in geographical region, which promotes intergovernmental cooperation and facilitates economic, political, security, military, educational, and sociocultural integration among its members and other countries in Asia.

  • It also regularly engages other countries within the Asia-Pacific region and beyond.
  • Given below is the list of all countries who are part of the ASEAN:
    • Brunei
    • Cambodia
    • Indonesia
    • Laos
    • Malaysia
    • Myanmar
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
  • ASEAN was preceded by an organisation formed on 31 July 1961 called the Association of geographic region (ASA), a group consisting of Thailand, the Philippines, and the Federation of Malaya.
  • It was created on 8 August 1967, when the foreign ministers of 5 countries: Indonesia, Malaysia, the Philippines, Singapore, and Thailand, signed the ASEAN Declaration.
  • As of June 2020, Lim Jock Hoi is the Secretary General.
  • In June 2020, it was announced that Vietnam will host a virtual summit on June 26.
  • Vietnam, which holds the rotating chairmanship of ASEAN this year, earlier proposed the summit be held, with the leaders present, in Hanoi on June 27 and 28.
SBI CBO Mock Test - 8 - Question 35

What are the roles of the Foreign Direct Investment (FDI) in Indian Growth?

Detailed Solution for SBI CBO Mock Test - 8 - Question 35

Foreign direct investment (FDI) is critical to a country's economic development. The entry of foreign cash has allowed India to improve its infrastructure, increase productivity, and increase employment. FDI also serves as a vehicle for acquiring sophisticated technology and mobilizing foreign exchange reserves.

SBI CBO Mock Test - 8 - Question 36

Uttar Pradesh has the highest number of Regional Rural Banks operating in India. Which of the following states have no Regional Rural Banks in India?

Detailed Solution for SBI CBO Mock Test - 8 - Question 36

Uttar Pradesh has the highest number at 36 branches of RRB, followed by Madhya Pradesh at 19 RRB and Bihar at 16 RRB. Goa and Sikkim do not have RRB.

SBI CBO Mock Test - 8 - Question 37

Which of the following rates is not decided by RBI?

Detailed Solution for SBI CBO Mock Test - 8 - Question 37

Prime lending rate is the interest rate used by a bank which is decided by the concerned bank. It is usually the interest rate at which banks lend to favoured customers - i.e., those with good credit. The prime interest rate, or prime lending rate, is largely determined by the federal funds rate, which is the overnight rate that banks use to lend to one another. The prime rate is also important for individual borrowers, as the prime rate directly affects the lending rates available for a mortgage, small business loan or personal loan.

SBI CBO Mock Test - 8 - Question 38

What does ‘Financial Inclusion’ mean?

Detailed Solution for SBI CBO Mock Test - 8 - Question 38

In the Indian context, the term ‘financial inclusion’ was used for the first time in April 2005 in the Annual Policy Statement presented by Y.Venugopal Reddy, the then Governor, Reserve Bank of India. While recognizing the concerns in regard to the banking practices that tend to exclude rather than attract vast sections of population, banks were urged to review their existing practices to align them with the objective of financial inclusion.

SBI CBO Mock Test - 8 - Question 39

Which of the following is not a Money Market Instrument?

Detailed Solution for SBI CBO Mock Test - 8 - Question 39
  • The money market is the arena in which financial institutions make available to a broad range of borrowers and investors the opportunity to buy and sell various forms of short-term securities.
  • There is no physical "money market." Instead, it is an informal network of banks and traders linked by telephones, fax machines, and computers.
  • Money markets exist both in the United States and abroad.
  • The short-term debts and securities sold on the money markets—which are known as money market instruments—have maturities ranging from one day to one year and are extremely liquid.
  • Treasury bills, federal agency notes, certificates of deposit (CDs), eurodollar deposits, commercial paper, bankers' acceptances, and repurchase agreements are examples of instruments.
  • The suppliers of funds for money market instruments are institutions and individuals with a preference for the highest liquidity and the lowest risk.
SBI CBO Mock Test - 8 - Question 40

An asset is classified as substandard

Detailed Solution for SBI CBO Mock Test - 8 - Question 40

If an asset has remained NPA for a period less than or equal to 12 months then that is classified as substandard.

SBI CBO Mock Test - 8 - Question 41

Which among the following are the types of mutual funds?

Detailed Solution for SBI CBO Mock Test - 8 - Question 41

Equity funds - Equity funds are the type of mutual funds that invests investors money in the stock market. These are categorized as - 

  • Large-cap mutual funds - In large-cap funds, a large portion of the investment is done in companies with large market capitalization. Large-cap are big, well-established companies in the equity market. These companies are strong, reputable, and trustworthy. Large-cap companies generally are the top 100 companies in a market.
    • ​Large-cap funds have lower growth potential and give investors lower returns on investment as compared to mid and small-cap funds.
    • Such companies have capital worth 20,000 crores or more.
  • Mid-cap mutual funds - In mid-cap funds, a large portion of the investment is done in companies with medium market capitalization.
    • It has better growth potential and gives investors higher returns on investment as compared to large-cap funds.
  • Small-cap mutual funds - In small-cap funds, a large portion of the investment is done in companies with small market capitalization i.e. having a market cap of less than INR 500 crore.
    • It has exponential growth potential and gives investors high returns on investment.
  • Equity-linked saving scheme(ELSS) - These funds provide tax savings to the investors and hence most popular among them.  But these funds have a lock-in period of 3 years.
  • Investors cannot redeem their money before the maturity date. 
  • It also provides an opportunity for long term capital appreciation.

Debt Funds- These are relatively safer investments and are suitable for Income Generation.

  • The investment in Fixed Income Securities, like Government Securities or Bonds, Commercial Papers and Debentures, Bank Certificates of Deposits, and Money Market instruments like Treasury Bills, Commercial Paper, etc comes under the category of debt funds.

Hybrid funds- These funds invest in both Equities and debt funds, thus offering the best in Growth Potential as well as Income Generation.

  • Examples of these types of funds are Pension Plans, Child Plans, and Monthly Income Plans, etc.
SBI CBO Mock Test - 8 - Question 42

___________ allows customers to simply drive at the ATM and access their account without even stepping out of their vehicles.

Detailed Solution for SBI CBO Mock Test - 8 - Question 42

Customers can drive up to a mobile ATM and access their accounts without ever getting out of their automobiles. Customers can use mobile ATMs to withdraw cash, deposit money, and do anything else that regular ATMs can do.

SBI CBO Mock Test - 8 - Question 43

SIDBI provides financial assistance in the following forms :
(i) Bills financing
(ii) Project financing
(iii) Re-finance assistance
(iv) Resource support to institutions
Which of the following sequence is correct ?

Detailed Solution for SBI CBO Mock Test - 8 - Question 43

SIDBI majorly follows 4 major objectives which are Development, Promotion, Coordination and Financing. Some of its key functions include:

  1. SIDBI offers financial support to MSMEs, Small Scale Industries (SSIs), and other service sectors
  2. It provides funding via banks, NBFCs, SFCs, and other financial institutions
  3. SIDBI aims to create equilibrium in the financial sector by strengthening credit flows and promoting skill development.
SBI CBO Mock Test - 8 - Question 44

Under which act Cooperative Banks needs to get registered for its operation?

Detailed Solution for SBI CBO Mock Test - 8 - Question 44

Cooperative Bank needs to get registered under Banking Laws (Co-operative Societies) Act. 1965  for its operation.

SBI CBO Mock Test - 8 - Question 45

Which of the following accounts are supported by BHIM UPI application?

Detailed Solution for SBI CBO Mock Test - 8 - Question 45
  • BHIM stands for Bharat Interface for Money.
  • It is a payment app that lets you make simple, easy, and quick transactions using Unified Payments Interface (UPI).
  • You can make direct bank payments to anyone on UPI using their UPI ID or scanning their QR with the BHIM app.
  • It was developed by the National Payments Corporation of India (NPCI).
  • It was launched by the Hon'ble Prime Minister of India, Narendra Modi on 30th December 2016 to bring Financial Inclusion to the nation and a digitally empowered society.
     
SBI CBO Mock Test - 8 - Question 46

Which of the following regulatory authority gives clearance for External Commercial borrowing?

Detailed Solution for SBI CBO Mock Test - 8 - Question 46

External commercial borrowing (ECBs) are loans in India made by non - resident lenders in foreign currency to Indian borrowers.

  • They are used widely in India to facilitate access to foreign money by Indian corporations and PSUs (public sector undertakings).
  • They are regulated by RBI.
SBI CBO Mock Test - 8 - Question 47

NBFC’s are regulated in India by:

Detailed Solution for SBI CBO Mock Test - 8 - Question 47

A NBFC is usually regulated by Reserve Bank of India subject to some exemptions which are mentioned below.
There are various companies that are not regulated by RBI:

  • Housing Finance Companies
  • Merchant Banking Companies
  • Stock Exchanges
  • Companies engaged in the business of stock-broking/sub-broking
  • Venture Capital Fund Companies
  • Nidhi Companies
  • Insurance companies and
  • Chit Fund Companies

These all are NBFCs but they have been exempted from the requirement of registration under Section 45-IA of the RBI Act, 1934 subject to certain conditions.

  • Housing Finance Companies are regulated by National Housing Bank
  • Merchant Banker/Venture Capital Fund Company/stock-exchanges/stock brokers/sub-brokers are regulated by Securities and Exchange Board of India
  • Insurance companies are regulated by Insurance Regulatory and Development Authority
  • Chit Fund Companies are regulated by the respective State Governments
  • Nidhi Companies are regulated by Ministry of Corporate Affairs, Government of India.

Companies that do financial business but are regulated by other regulators are given specific exemption by the Reserve Bank from its regulatory requirements for avoiding duality of regulation.

SBI CBO Mock Test - 8 - Question 48

Which among the following is correct regarding the Unit Linked Insurance Plans?

Detailed Solution for SBI CBO Mock Test - 8 - Question 48

Unit Linked Insurance Plan is meant to give the insured an opportunity for insurance and investment.
The first such plan was launched by Unit Trust of India.
The premium collected is divided into mortality charge or providing insurance cover whereas the rest is invested in the equity or debt markets.

SBI CBO Mock Test - 8 - Question 49

The main function of IMF is?

Detailed Solution for SBI CBO Mock Test - 8 - Question 49

The main function of IMF is to help solve balance-of-payments problem of member countries

SBI CBO Mock Test - 8 - Question 50

What are the Benefits of Foreign Portfolio Investment (FPI)?

Detailed Solution for SBI CBO Mock Test - 8 - Question 50

Benefits of Foreign Portfolio Investment (FPI):
a) Portfolio diversification
b) Increases the liquidity of domestic capital markets
c) Promotes the development of equity markets
d) Access to markets with different risk-return characteristics

SBI CBO Mock Test - 8 - Question 51

Central Co - operative Banks

Detailed Solution for SBI CBO Mock Test - 8 - Question 51
  • The Central Co - operative Banks occupies a unique place in the three tier credit system. In the three tier system the central bank occupying the middle place, provides a connecting link between the lower (Primary Credit Societies) and the higher units (State Co-operative societies).
  • The problems of lower units are conveyed to the higher units and the solutions, suggestions offered by the higher units are transmitted to the lower units in turn. By this process a central bank acts as a mediator to the primary societies and state co - operative bank.
  • It finances the lower units– Primary Credit Societies for different purposes in the time of resource deficiency however involves less in commercial banking. As an intermediary, the central cooperative banks are closer to the primary societies than an Apex Bank being more close to the needs of the local people of the society.
  • Hence 1, 2, and 3 statement are correct. 
SBI CBO Mock Test - 8 - Question 52

What is the expansion of BHIM?

Detailed Solution for SBI CBO Mock Test - 8 - Question 52

BHIM:

  • It was launched on 30th December 2016 by PM Narendra Modi.
  • It has been designed by the National Payments Corporation of India (NPCI) and named after Dr. BR Ambedkar.
  • Using this app, transactions can be made through the Unified Payment Interface (UPI).
  • Transactions can be made through a bank account, QR code, mobile number or by creating a unique digital identity.
  • NPCI does not charge any fee for using this platform.
SBI CBO Mock Test - 8 - Question 53

In India a borrower can use _____% of the external commercial borrowing(ECB) to repay rupee debt.

Detailed Solution for SBI CBO Mock Test - 8 - Question 53

Borrowers can use 25 per cent of the ECB to repay rupee debt and the remaining 75 per cent should be used for new projects. A borrower can not refinance its entire existing rupee loan through ECB. The money raised through ECB is cheaper given near-zero interest rates in the US and Europe, Indian companies can repay part of their existing expensive loans from that. An ECB is an instrument used in India to facilitate the access to foreign money by Indian corporations and PSUs (public sector undertakings). ECBs include commercial bank loans, buyers' credit, suppliers' credit, securitised instruments such as floating rate notes and fixed rate bonds etc., credit from official export credit agencies and commercial borrowings from the private sector window of multilateral financial Institutions such as International Finance Corporation (Washington), ADB, AFIC, CDC, etc. ECBs cannot be used for investment in stock market or speculation in real estate.

SBI CBO Mock Test - 8 - Question 54

APBS is used for crediting DBT transactions for Government/ Government agency disbursements. What is the full form of APBS?

Detailed Solution for SBI CBO Mock Test - 8 - Question 54

Aadhaar Payments Bridge System (APBS) is used for crediting DBT transactions for Government/ Government agency disbursements.

SBI CBO Mock Test - 8 - Question 55

What is the minimum transaction limit under the National Electronic Funds Transfer (NEFT)?

Detailed Solution for SBI CBO Mock Test - 8 - Question 55

There is no minimum limit on National Electronic Funds Transfer (NEFT) transfers.

SBI CBO Mock Test - 8 - Question 56

What are the sectors covered under the NABARD allied economic activities in rural areas to promote integrated rural development and secure prosperity of rural areas?

Detailed Solution for SBI CBO Mock Test - 8 - Question 56

For the promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts, and other rural crafts and other allied economic activities in rural areas to promote integrated rural development and secure prosperity of rural areas.

SBI CBO Mock Test - 8 - Question 57

The origin of Indian cooperative banking started is with the passing of the Cooperative Credit Societies Act in _____.

Detailed Solution for SBI CBO Mock Test - 8 - Question 57

The Cooperative movement in India was started, primarily for dealing with the problem of rural credit.
The origin of Indian cooperative banking started is with the passing of the Cooperative Credit Societies Act in 1904.
The objective of this Act was to establish cooperative credit societies “to encourage thrift, self-help and cooperation among agriculturists, artisans and persons of limited means.”
Name of some co-operative banks India are:

  • Andhra Pradesh State Co-operative Bank Ltd
  • The Bihar State Co- operative Bank Ltd.
  • Chhatisgarh Rajya Sahakari Bank Maryadit

Three tier structures exist in the cooperative banking:
i. State cooperative bank at the apex level.
ii. Central cooperative banks at the district level.
iii. Primary cooperative banks are at the base or local level.

SBI CBO Mock Test - 8 - Question 58

UPI is a initiative of _________.

Detailed Solution for SBI CBO Mock Test - 8 - Question 58
  • It is a “Not for Profit” umbrella organization for operating retail payments and settlement systems in India, is an initiative of RBI and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment & Settlement Infrastructure in India.
  • It aims in bringing innovations in the retail payment systems through the use of technology for achieving greater efficiency in operations and widening the reach of payment systems.
  • The ten core promoter banks are State Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, Union Bank of India, Bank of India, ICICI Bank, HDFC Bank, Citibank N. A. and HSBC.
  • RuPay, an indigenous payment card of India launched by NPCI for all banks of India.
  • Developed by National Payments Corporation of India, Unified Payments Interface is an instant real-time payment system, facilitating inter-bank transactions.
SBI CBO Mock Test - 8 - Question 59

____________ is India's apex regulatory organization for licensing and regulating micro, small and medium-sized enterprise financial companies.

Detailed Solution for SBI CBO Mock Test - 8 - Question 59

The Small Industries Development Bank of India is India's apex regulatory organization for licensing and regulating micro, small, and medium-sized enterprise financial companies. It is governed by the Government of India's Ministry of Finance. Headquarters: Lucknow.

SBI CBO Mock Test - 8 - Question 60

ARC is a specialist financial firm that purchases non-performing assets (NPAs) from banks and financial institutions to help them clean up their balance sheets. What does R represent in ARC?

Detailed Solution for SBI CBO Mock Test - 8 - Question 60

An Asset Reconstruction Company (ARC) is a specialist financial firm that purchases non-performing assets (NPAs) from banks and financial institutions to help them clean up their balance sheets.

SBI CBO Mock Test - 8 - Question 61

How much amount can be transferred to Nepal through Indo Nepal Remittance Facility under the National Electronic Fund Transfer (NEFT)?

Detailed Solution for SBI CBO Mock Test - 8 - Question 61

The Reserve Bank of India has increased the maximum amount of money that can be transferred under the Indo-Nepal Remittance Facility Scheme from Rs 50,000 to Rs 2 lakhs per transaction. Previously, there was a 12-transaction limit per year.

SBI CBO Mock Test - 8 - Question 62

Trade credit is also called

Detailed Solution for SBI CBO Mock Test - 8 - Question 62
  • Trade credit is the credit extended by one trader to another for the purchase of goods and services. Trade credit facilitates the purchase of supplies without immediate payment. Trade credit is commonly used by business organizations as a source of short-term financing. It is granted to those customers who have a reasonable amount of financial standing and goodwill. There are many forms of trade credit in common use. Various industries use various specialized forms. They all have, in common, the collaboration of businesses to make efficient use of capital to accomplish various business objectives.
  • Trade credit is the largest use of capital for a majority of business-to-business (B2B) sellers in the United States and is a critical source of capital for a majority of all businesses. For example, Wal-Mart, the largest retailer in the world, has used trade credit as a larger source of capital than bank borrowings; trade credit for Wal-Mart is 8 times the amount of capital invested by shareholders.
SBI CBO Mock Test - 8 - Question 63

Cooperative Banks are regulated by _________.

Detailed Solution for SBI CBO Mock Test - 8 - Question 63

Cooperative Banks are regulated by RBI.

SBI CBO Mock Test - 8 - Question 64

Currently BHIM App is available in how many languages?

Detailed Solution for SBI CBO Mock Test - 8 - Question 64
  • Currently, BHIM is available in 20 languages, i.e., Hindi, English, Tamil, Telugu, Malayalam, Bengali, Odia, Kannada, Gujarati, Marathi, Assamese, Bengali, Bhojpuri, Haryanvi, Marwari, Konkani, Manipuri, Khasi and Mizo.
  • Bharat Interface for Money (BHIM) is a mobile payments application based on NPCI’s Unified Payments Interface (UPI) which helps in making simple, easy and quick payment transactions
  • One can make instant bank-to-bank payments and Pay and collect money using just Mobile number or Virtual Payment Address (UPI ID).
  • BHIM was launched on 30th December 2016 by PM Narendra Modi.
  • Through BHIM App, one can't pay more than Rs. 20,000 in a transaction. So if one wants to pay more than Rs. 20,000, one has to pay twice.
  • The daily limit for BHIM app transaction is ₹40,000.
  • There is also a limit to the number of transactions through the BHIM app. The UPI prohibits more than 10 transactions by an account in 24 hours. 
SBI CBO Mock Test - 8 - Question 65

The minimum maturity period in respect of external commercial borrowing (ECB) should be __________ according to the amount.

Detailed Solution for SBI CBO Mock Test - 8 - Question 65

The minimum maturity period in respect of external commercial borrowing (ECB) should be 3 years or 5 years, according to the amount.

SBI CBO Mock Test - 8 - Question 66

BCBS is the